Buying or selling a property is not always that easy. Problems can crop up with the potential to throw a wrench in and delay things, giving headaches to all parties concerned. It is not always easy, but neither necessarily need it be a fight.
As a seasoned Florida real estate title company, East Coast Title & Escrow has helped clients tide over many such obstacles in real estate transactions. Entering any transaction aware of the risks can better help both sides to mitigate them. Let’s look at some of the more common ones that may be around the bend.
Financing Issues
Probably the most common major problem encountered in real estate transactions is securing financing. Buyers may have credit problems, cannot raise enough money for a down payment, or simply cannot obtain a mortgage. If the financing falls through, then sellers are virtually assured of having numerous problems and delays in the selling process. Making sure the buyers are using reputable lenders and having a plan for overcoming any financial roadblocks can alleviate this. We ensure that we discuss what financial roadblocks could affect closing.
Home Inspections
A home inspection may reveal unknown defects or maintenance issues that could impact your home’s sale. Occasionally, negotiation of repairs or concessions based on those findings can cause buyer’s and seller’s friction. Communication and realistic expectations will be the key to resolving these issues. Just remember to ask your Realtor for any local recommended home inspection services that will provide thorough reports for you.
Legal Complexities
Real estate transactions involve so many legal documents and regulations that it may be overwhelming to the first-time buyer. Ensuring that the paperwork is properly written and it is in compliance with local law is critical. Our team at East Coast applies the latest technology in mitigating all potential legal risks down the line.
Deadlines
Real estate transactions are run based on strict timelines and deadlines. Being on time is our job, but we work with everyone to be sure that all of their deadlines are met. Delays in acquiring documents, setting up inspections, or finishing financing can be very long and frustrating during the closing process. Efficient communication and realistic planning bring about the key to meeting deadlines while keeping the transaction on course. We want to be among those who can say congratulations first!
Emotional Attachments
Buyers and sellers can become very attached to the transaction, therefore clouding their judgment and acting irrationally. One should maintain a level head when dealing with real estate transactions and try to keep the decision based on practicality. Many times buyers will let emotions back them out of a deal… but we try and help you understand the grand scheme of things. We work with buyers, sellers, and their realtors for happy resolutions!
Title Issues
Title issues—liens, encroachments, or boundary disputes—are the jurisdictional bumps that can derail a real estate transaction if not addressed quickly. A diligent title search and title insurance are key to finding and resolving potential title issues. At our company, search technology works to make sure that we minimize title issues.
Our East Coast Team is here for you!
By careful planning, diligence, and with the right professionals who really care, you can get past nearly any obstacle. Contact us today for a consultation to ensure your real estate transaction goes off without a hitch. Florida’s best title company is here to get you from contract to close!